Corn futures are trading higher at midday. Spillover support from soybeans and the later than normal planting pace for much of the crop in the eastern Corn Belt are bullish factors. Dry weather this week is helping to expand planting progress, although traders are already becoming concerned with forecasts for cool and wet weather next week. July is 5 1/2 cents higher at $4.31 1/4 and December is 5 cents higher at $4.52.

Soybean futures are strongly higher again at midsession. The July contract made new highs for the move and is nearing the highest level in eight months. Tight old-crop supplies are the major driving factor as export demand remains strong. Strong demand for soymeal and soyoil is also a supportive factor. Gains are being extended by strength in the stock market and crude oil. July is 14 3/4 cents higher at $11.76 3/4 and November is 24 cents higher at $10.20.

Wheat futures are higher at midday. The rally in soybeans has helped trigger fund buying in the wheat markets. Export demand has been sluggish, but weakness in the dollar should help. The dollar is at its lowest level in five months. Spring wheat planting delays that will trim yield potential and could push some acreage to other crops are also supportive factors. CBOT July is 9 1/2 cents higher at $5.98 1/4, KCBT July is 10 1/4 cents higher at $6.53 and MGE July is 9 1/2 cents higher at $7.23.

Cattle futures are trading mixed at midsession. Short-covering provided light support early in the session following the weakness the past week. The declining value of the dollar is also supportive as it should help improve beef exports. However, gains are being limited and some contracts are lower due to weaker boxed beef values on Tuesday and positioning ahead of the Cattle on Feed report due out Friday afternoon. June is 13 cents higher at $81.80 and August is 23 cents lower at $82.40.

Lean hog futures are narrowly mixed at midday. Steady to lower cash markets and the recent weakness in pork cutout values are weighing on front end futures. Losses are being limited by strength in the stock market and weakness in the dollar. The strength in the stock market may help consumer confidence and improve domestic pork demand while weakness in the dollar is beneficial for pork exports. June is 35 cents lower at $65.90 and August is 20 cents lower at $68.75.